July 23, 2008

Kwame Kilpatrick

Posted by Mike O'Brien at 7:07 PM

It's a little early to start talking about 2009 elections, but this story is so salacious I think we can play local baseball for one night. This gives the reader an idea of who the Democratic party has running for office.

I will rhetorically ask, what does one have to do to get beat in a Democratic Party primary?

Continue reading "Kwame Kilpatrick" »

July 22, 2008

T. Boone

Posted by Mike O'Brien at 1:09 PM

This story initially caught my eye because of the unusual name of the main charector and his incredible honesty.

T. Boone Pickens wants to build a gigundus wind farm that will cost $1 Trillion in equipment and another $200 Billion in transmission line costs. He believes that the country could be 20% powered on wind in ten years, the natural gas formerly used to power the country can be used to power cars at a fraction of the cost of doing so today. He believes private investors will pony up for this idea.

So, what other ideas are out there?

Continue reading "T. Boone" »

July 15, 2008

Making it a Federal Crime

Posted by Mike O'Brien at 3:56 PM

Today's issue comes from the Heritage Foundation which notes that the number of federal crimes has substantially increased lately. The conservative law blogs (blawgs) are conserned about this massive increase in federal power. The liberals seem to think that the federal government should be able to go wherever it wants.

There are at least two notable ramifications of this massive increase in federal power:

An issue cannot simultaneously be both a federal and state issue - therefore this takes power away from the states. This is a problem because states are in the best position to determine how to resolve a local issue.

Also, many of the federal crimes do not require intent or mens rea. These crimes are like possession. It doesn't matter if you don't know you have it, as long as you have it you are guilty. This dissappearance of this requirement has been an increasing issue for at least fifty years in the United States.

Continue reading "Making it a Federal Crime" »

July 14, 2008

Fannie, Freddie, and much ado about nothing

Posted by Mike O'Brien at 7:57 PM

Economists are theorizing about the potential ramifications about Fannie Mae and Freddie Mac. Politicians are eager to find something that appears to be a solution. But does it really make a difference?

Let's say at one extreme Fannie and Freddie disappear. There would be a lack of capital in the mortgage markets and interest rates would skyrocket. Alternately, let's say that all of the mortgages are replaced with government bonds which effectively guarantees Fanny and Freddie's debt. Taxes would need to be raised to subsidize those mortgages. Effectively the result is the same on the average American, either it is more expensive to get a mortgage or taxes are higher.

So how does one make it look like nothing happened so that live goes on as usual?

Continue reading "Fannie, Freddie, and much ado about nothing" »

July 11, 2008

FISA as modified by the PATRIOT Act as modified Yesterday.

Posted by Mike O'Brien at 8:39 PM

Barack Obama is taking a lot of heat on the blogs for supporting the extension of FISA with some new quirks. Most of the people who are complaining probably never read the bill, and don't really understand what it does. I'll try to demystify this legislation.

For what its worth. I have only been able to find one conviction of an American using FISA evidence since PATRIOT, and in that case the agent involved obtained a warrant from the FISC. It is likely that this statute will join the thousands of volumes of United States Code that have entirely no direct affect on your life.

Continue reading "FISA as modified by the PATRIOT Act as modified Yesterday." »

July 10, 2008

The Minimum Wage

Posted by Mike O'Brien at 7:28 PM

From the Wall Street Journal today:


[Barack Obama's] proposals include tax cuts, a minimum wage increase to $9.50 by 2011, an expansion of the earned income tax credit, child care tax cuts, an expansion of after-school programs, a pledge to enact the Fair Pay Restoration Act which intends to close the pay gap between men and women, and eliminating the capital gains tax rates for small business owners, among others.

John McCain has previously voted against an increase in the minimum wage.

Conservatives generally oppose the minimum wage and point to a recent study in the UK which notes, the increase resulted in slowed hiring, reduction in hours of current employees, and increased prices at a microscopic level. At the macroscopic level there was little change. Liberals point to the same study, and not there was little effect on unemployment, which is the classical fear of the minimum wage.

Continue reading "The Minimum Wage" »

July 7, 2008

Can 300 Economists Be Wrong?

Posted by Mike O'Brien at 7:43 PM

John McCain issued a press release today which contained a statement from 300 economists who support his economic plan. The economists seem motivated by promises of reduced business taxes, reduced spending, and free market trade.

The Politico's Ben Smith notes that the economists didn't sign on to everything:


The statement leaves out two big chunks of McCain's economic argument: the gas tax holiday and his promise to balance the budget by the end of his first term.

To contrast, Steve Forbes discussed in a conference call today how Obama voted to raise taxes on those making as little as a $32,000 a year.

Continue reading "Can 300 Economists Be Wrong?" »

July 6, 2008

Jesse Helms Remembered

Posted by Mike O'Brien at 1:55 PM

Jesse Helms, a former senator (R-NC) died on the Forth of July of natural causes. The blogosphere has been relatively silent about his death given the controversy that his live managed to create. Those on the left seem almost gleeful that the old man who suffered dementia passed. The headline on a village voice article reads Jesse Helms finally dies.

While Barack Obama appears to be silent the Associated Press Notes:


Republican presidential candidate Sen. John McCain said in a statement: "Our thoughts and prayers go out to the family and friends of Senator Jesse Helms. At this time, let us remember a life dedicated to serving this nation."

So if the left is so glad that Helms has passed, why is he so mimicked in their techniques?

Continue reading "Jesse Helms Remembered" »

July 2, 2008

Matthew 25 Network

Posted by Mike O'Brien at 6:56 PM

Law and Religion is an area of scholarly interest that I rarely have an adequate opportunity to discuss. For some reason it is now prominently noticeable in the political campaign season. The passage the Matthew 25 Network cites as justifying Barack Obama socialism is:

31"When the Son of Man comes in his glory, and all the angels with him, he will sit on his throne in heavenly glory. 32All the nations will be gathered before him, and he will separate the people one from another as a shepherd separates the sheep from the goats. 33He will put the sheep on his right and the goats on his left.

34"Then the King will say to those on his right, 'Come, you who are blessed by my Father; take your inheritance, the kingdom prepared for you since the creation of the world. 35For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink, I was a stranger and you invited me in, 36I needed clothes and you clothed me, I was sick and you looked after me, I was in prison and you came to visit me.'

37"Then the righteous will answer him, 'Lord, when did we see you hungry and feed you, or thirsty and give you something to drink? 38When did we see you a stranger and invite you in, or needing clothes and clothe you? 39When did we see you sick or in prison and go to visit you?'

40"The King will reply, 'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.'

In this article I will discuss socialism and Christianity, and do a quick Bible Study on Matthew chapter 25.

Continue reading "Matthew 25 Network" »

June 30, 2008

Barack Obama v. James Dobson Part II

Posted by Mike O'Brien at 8:44 PM

Jimbo decided to make an issue of this speech of Senator Obama's which is nearly two years old. You may read Senator Obama's speech or listen to Jimbo's monologue at the links I have posted. Part I examined Jimbo's assertion that Obama's interpretation of scripture is absurd, Part II will examine Obama's response.

Obama said the speech made the argument that people of faith, like himself, "try to translate some of our concerns in a universal language so that we can have an open and vigorous debate rather than having religion divide us."

Continue reading "Barack Obama v. James Dobson Part II" »

June 24, 2008

Barack Obama v. James Dobson Part I

Posted by Mike O'Brien at 8:52 PM

Jimbo decided to make an issue of this speech of Senator Obama's which is nearly two years old. You may read Senator Obama's speech or listen to Jimbo's monologue at the links I have posted. Part I of this article will examine Jimbo's assertion that Obama's interpretation of scripture is absurd, Part II will examine Obama's response.

With regard to Part I, Jimbo found this portion of the speech particularly ludicrous:

[G]iven the increasing diversity of America's population, the dangers of sectarianism have never been greater. Whatever we once were, we are no longer just a Christian nation; we are also a Jewish nation, a Muslim nation, a Buddhist nation, a Hindu nation, and a nation of nonbelievers.

And even if we did have only Christians in our midst, if we expelled every non-Christian from the United States of America, whose Christianity would we teach in the schools? Would we go with James Dobson's, or Al Sharpton's? Which passages of Scripture should guide our public policy? Should we go with Leviticus, which suggests slavery is ok and that eating shellfish is abomination? How about Deuteronomy, which suggests stoning your child if he strays from the faith? Or should we just stick to the Sermon on the Mount - a passage that is so radical that it's doubtful that our own Defense Department would survive its application? So before we get carried away, let's read our bibles. Folks haven't been reading their bibles.

Continue reading "Barack Obama v. James Dobson Part I" »

June 23, 2008

Free Trade and Protectionism

Posted by Mike O'Brien at 7:33 PM

Protectionism in the Untied States originates in Alexander Hamilton's Report on Manufactures. On page 37 of the copy in the link Hammy discusses how a combination of tariffs and subsidies (or bounties) would enable fledging American industries to grow. The idea that American should protect certain industries for various reasons has been around ever since. However, since Richard Nixon the idea has lost nearly all serious support. In fact the few pockets where it remains are in Michigan, Ohio, and Pennsylvania, states where Barack Obama decided that heavy pandering was needed in order to get some votes to win the nomination. Now that he has it, he has decided his first position was a bit extreme.

Continue reading "Free Trade and Protectionism" »

June 18, 2008

Tax Breaks for Oil Companies

Posted by Mike O'Brien at 6:44 PM

Today's issue comes from gossip style quips:from the presidential candidates about exactly who supports tax breaks for Big Oil. Here is the statute in question:


(a) TREATMENT AS EXPENSES.—A taxpayer may elect to treat 50 percent of the cost of any qualified refinery property as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which the qualified refinery property is placed in service.

Simply, this allows owners of refineries to deduct 50% of operating cost of a refinery, thus not having to pay tax on it. So, which presidential candidate voted for the measure, and which one voted against it?

Continue reading "Tax Breaks for Oil Companies" »

June 16, 2008

Unemployment Insurance

Posted by Mike O'Brien at 8:47 PM

Today's issue broke last week when the House of Representatives voted on an extension of unemployment benefits that the President has promised to veto. I have previously discussed the Social Security Act in detailhttp://mob.polireport.com/2008/05/social_security_1.html . Today's focus is on unemployment insurance. UI is a joint federal-state venture. 96% of the people who work are covered by unemployment insurance which is a joint state/federal venture. Employers pay a portion of tax to the federal government and to the state. The unemployment rate determines how much money each state is given by the feds. The principle is simple, the feds gather a war chest of money in boom times and pay it back in sour times.

So what is Congress doing to UI and why is it so controversial?

Continue reading "Unemployment Insurance" »

June 14, 2008

Tax Policy - Part IV - the Impact

Posted by Mike O'Brien at 5:49 PM

The issue for this week is tax policy. This issue is needlessly complicated, and accurate analysis, like education policy, requires a series of articles. In Part I, I discussed the crowding out effect which explains the danger of unguarded deficits. In Part II, I explained the effect of spending on local projects which have no national significance (pork-barrell spending). Part III focused on some of the taxes debated, and where the candidates stand. Finally, Part IV will explain the different alleged effects of these positions.

Given all that I have discussed already, what's really going to happen?

Continue reading "Tax Policy - Part IV - the Impact" »

June 12, 2008

Tax Policy - Part III - Various Proposals

Posted by Mike O'Brien at 6:39 PM

The issue for this week is tax policy. This issue is needlessly complicated, and accurate analysis, like education policy, requires a series of articles. In Part I, I discussed the crowding out effect which explains the danger of unguarded deficits. In Part II, I explained the effect of spending on local projects which have no national significance (pork-barrell spending). Part III will focus on some of the taxes that are debated, and where the candidates stand. Finally, Part IV will explain the different alleged effects of these positions.


This article will discuss different policies regarding social security, income, and capital gains taxes, which I think are the three most continuously debated.

Continue reading "Tax Policy - Part III - Various Proposals" »

June 11, 2008

Tax Policy Part II - Pork Barrell Spending

Posted by Mike O'Brien at 8:58 PM

The issue for this week is tax policy. This issue is needlessly complicated, and accurate analysis, like education policy, requires a series of articles. In Part I, I discussed the crowding out effect which explains the danger of unguarded deficits. Part II will explain the effect of spending on local projects which have no national significance (pork-barrell spending). Part III will focus on some of the taxes that are debated, and where the candidates stand. Finally, Part IV will explain the different alleged effects of these positions.

Politicians tried to assuage the public by passing the Federal Funding Accountability and Transparency Act of 2006. The law talked big, requiring OMB to set up a website to disclose who was recieving federal projects, but did it really do anything?

Continue reading "Tax Policy Part II - Pork Barrell Spending" »

June 9, 2008

Tax Policy - Part I - The Crowding-Out Effect

Posted by Mike O'Brien at 7:57 PM

The issue for this week is tax policy. This issue is needlessly complicated, and accurate analysis, like education policy, requires a series of articles. In Part I, I will discuss the crowding out effect which explains the danger of unguarded deficits. Part II will explain the effect of spending on local projects which have no national significance (pork-barrell spending). Part III will focus on some of the taxes that are debated, and where the candidates stand. Finally, Part IV will explain the different alleged effects of these positions.

There is a threshold issue of whether the increase in spending has any effect on demand. Neoclassical economists argue it does not. Whether someone chooses to pay a dollar in tax today, or their decedents pay a dollar in tax with interest in the future, makes no difference. Alternately, others believe that increased spending of a dollar results in demand increasing by more than a dollar because that dollar will be spent and respent throughout the economy vastly increasing demand. In a broad sense, the crowding out effect asserts that rewards have hidden costs that will actually reduce intrinsic incentives to perform an action. Paying a friend for coming over for dinner will reduce the value of the friendship.

Continue reading "Tax Policy - Part I - The Crowding-Out Effect" »

June 4, 2008

Judges

Posted by Mike O'Brien at 7:30 PM

Bob Novak brings today's issue, the nomination of judges and justices.

Although John McCain has consistently stated he would select judges like John Roberts and Samuel Aliton, Novak questions rather those assurances would lead to candidates who could pass muster in the senate. Barack Obama has only spoken publically about judges a few times, and those comments are below the fold.

Continue reading "Judges" »

June 2, 2008

America's Climate Security Act

Posted by Mike O'Brien at 9:08 PM

America's Climate Security Act is not sponsored by any of the current presidential candidates. This is particularly strange since each of them sponsorred a previous version of the bill which was substantially similar.

My previous post on the cap and trade explained the mechanics of the bill. The questions here are how much pork is really in this bill and is it worth it?

Continue reading "America's Climate Security Act" »

All posts, comments and writings are the views, opinions and responsibilities of Contributing Authors.
PoliReport.com and associated personnel are not responsible for the content, legality, or means of contributor work.